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10 Must Reads for the CRE Industry Today (May 31, 2018)

Sears plans to close 72 more stores, according to CNBC. Foreign investment in the U.S. remains strong, Forbes reports. These are among today’s must reads from around the commercial real estate industry.

  1. Why Foreign Investors Love U.S. Commercial Real Estate, And Why More Will Follow “Despite fears of trade wars and increased protectionism, foreign investment in the United States remains robust. In fact, the U.S. continues to be the single largest recipient of foreign direct investment (FDI) in the world: more than $450 billion was pumped into the U.S. economy from other countries in 2016, according to the Bureau of Economic Analysis at the Department of Commerce.” (Forbes)
  2. Sears Plans to Shutter 72 More Stores, With Closing Sales Starting in the Near FutureSears Holdingssaid Thursday it will be closing more than 70 additional stores in 2018 as its sales continue to erode, dropping more than 30 percent in the latest quarter from a year ago.” (CNBC)
  3. S. Plans to Hit EU With Steel, Aluminum Tariffs “The Trump administration, unable to win concessions from European Union counterparts ahead of a Friday deadline, is planning to make good on its threat to impose tariffs on European steel and aluminum, people familiar with the matter said.” (Wall Street Journal, subscription required)
  4. Rising rates? It May Be Time to Buy, Not Sell, Those REITs “Interest rates are rising. Sell your REITs! That's the usual knee-jerk reaction of investors when the economic cycle is getting old and the Federal Reserve Bank is raising interest rates.” (CNBC)
  5. Yes, Sears Is Likely to Collapse, But Its Biggest Stakeholder Will Be Just Fine “Can Eddie Lampert save Sears? Probably not, say most experts, despite years of maneuvers and machinations to keep the storied retailer afloat.” (MarketWatch)
  6. Scarcity of Housing in Rural America Drives Worker Shortage “Austin Steinbach said he was ‘dead set’ on moving to this rural farming town for a job that offered benefits, a $500 signing bonus and a higher wage. But the 25-year-old father of two had to turn it down after a week-long search with his wife for a home failed to turn up anything livable or in their price range.” (Wall Street Journal, subscription required)
  7. Cushman is Planning to File for an IPO in June: Sources “Cushman & Wakefield is gearing up to file for an initial public offering with the U.S. Securities and Exchange Commission sometime in June, sources told The Real Deal.” (The Real Deal)
  8. The ‘State Of The Union’ Of Real Estate InvestingIn a year of unprecedented market volatility, real estate remains widely regarded as one of the safest investments you can make. Real estate has long been the bedrock of wealth creation in the United States, but there are various ways to invest in the market with different risk and opportunity profiles associated with each deal. The “state of the union” of real estate is strong, but what investors want to know is how the market will play out in 2018 and beyond.” (Forbes)
  9. S. GDP Revised Lower for the First Quarter on Inventories “The U.S. economy grew a touch softer in the first quarter than originally reported, mainly because of a slower buildup in inventories. Gross domestic product was trimmed to an annual 2.2% pace from 2.3%.” (MarketWatch)
  10. The Retail Rent Test: Arbitrator to Decide What Barneys’ Madison Ave. Flagship Is Worth “As the divide widens over an appropriate rent for prime ground-floor retail digs, a landlord and a retailer are deadlocked in a duel on the streets of Madison Avenue.” (The Real Deal)
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